Homes for Sale in 78624

• 

  

  

  /13

  $225,000

  $25K PRICE DROP

  • Land
  • 5,227 Sq Ft
  • $1,875,000 per Acre

  142 Farm To Market 1376, Fredericksburg, TX 78624

  This property offers an ideal retreat for RV or tiny homeowners seeking a peaceful yet amenity-rich location in Texas Hill Country. Situated within the Firefly Resort, it combines serene natural views with convenient access to community features and nearby attractions. Prime location and quiet setting: The lot is positioned to provide tranquility with beautiful Hill Country views, while being a

  Paul Clarke Coldwell Banker D'Ann Harper, REALTOR

  142 Farm To Market 1376, Fredericksburg, TX 78624
• 

  

  

  /12

  $220,000

  $46K PRICE DROP

  • Land
  • 3,920 Sq Ft
  • $2,444,444 per Acre

  332 Farm To Market 1376, Fredericksburg, TX 78624

  This property offers an ideal retreat for RV or tiny homeowners seeking a peaceful yet amenity-rich location in Texas Hill Country. Situated within the Firefly Resort, it combines serene natural views with convenient access to community features and nearby attractions. Prime location and quiet setting: The lot is positioned to provide tranquility with beautiful Hill Country views, while being a

  Paul Clarke Coldwell Banker D'Ann Harper, REALTOR

  332 Farm To Market 1376, Fredericksburg, TX 78624
• 

  

  

  /36

  $498,500

  • 1,568 Sq Ft

  1983 Wendal-Aherns Rd, Fredericksburg, TX 78624

  Country living at its best. This peaceful, level property offers a wonderful blend of open space and mature trees, creating a serene setting where you can relax and enjoy the beauty of nature. The property features a 3 bed, 2 bath, mobile home built in 1994 with an open floor plan from the dining room to the living room with lots of space. The mobile home is rocked all the way around and sits

  Connie Wehmeyer eXp Realty LLC / Tinsley Realty Group

  1983 Wendal-Aherns Rd, Fredericksburg, TX 78624
• 

  

  

  /40

  $1,025,000

  $15K PRICE DROP

  • 3 Beds
  • 2 Baths
  • 1,845 Sq Ft

  2009 Axis Cir, Fredericksburg, TX 78624

  Experience elevated Hill Country living at 2009 Axis Circle, a beautifully appointed luxury residence set on 3 pristine acres within the gated, Ag-exempt community of Vineyard Ridge. The upgrades here are anything but ordinary, transforming this home into an exceptionally refined retreat that is as impressive to live in as it is to look at. At the heart of the home, the chef's kitchen is nothing

  Kelly Jo Gonzalez Kuper Sotheby's Int'l Realty

  2009 Axis Cir, Fredericksburg, TX 78624
• 

  

  

  /26

  $279,000

  New Construction $15K PRICE INCREASE

  • 4 Beds
  • 2 Baths
  • 1,167 Sq Ft

  129 Alameda Dr, Fredericksburg, TX 78624

  *5% lender incentive offered with the use of the seller’s in-house lender, Homeward Mortgage! Incentive may be used towards buyer closing costs and/or rate buy-down, subject to lender approval and buyer qualification. The Ramsey - This new single-story design makes smart use of the space available. At the front are all three secondary bedrooms arranged near a convenient full-sized bathroom. Down

  Christopher Marti Keller Williams City-View

  129 Alameda Dr, Fredericksburg, TX 78624
• 

  

  /34

  $290,000

  • Land
  • 6,969 Sq Ft
  • $1,812,500 per Acre

  5386 Ranch Road 1376 Unit 86, Fredericksburg, TX 78624

  Lot 86- A Premium RV Lot, the LARGEST LOT on the RESORT!! This beautiful site allows for Sunrise Views overlooking the Resort Pond and fountain. Just a short walk to the Sunrise POOL, clubhouse, and dog park where you can relax after a long day of Whiskey & Wine Tours and tons of Shopping in Downtown Federicksburg. Custom concrete pad with additional bumps outs for extra seating, covered seating

  Sandee Payne eXp Realty LLC

  5386 Ranch Road 1376 Unit 86, Fredericksburg, TX 78624
• 

  

  /11

  $265,000

  • Land
  • 4,356 Sq Ft
  • $2,650,000 per Acre

  82 Farm To Market 1376, Fredericksburg, TX 78624

  This property offers an ideal retreat for RV or tiny homeowners seeking a peaceful yet amenity-rich location in Texas Hill Country. Situated within the Firefly Resort, it combines serene natural views with convenient access to community features and nearby attractions. Prime location and quiet setting: The lot is positioned to provide tranquility with beautiful Hill Country views, while being a

  Paul Clarke Coldwell Banker D'Ann Harper, REALTOR

  82 Farm To Market 1376, Fredericksburg, TX 78624
• 

  

  /26

  $369,750

  New Construction

  • 2 Beds
  • 2 Baths
  • 1,122 Sq Ft

  802 S Creek St Unit 100, Fredericksburg, TX 78624

  Outside of the local Municipal Utility District, save thousands on taxes annually! Cottage 100 features the popular Hahn floor plan, the most sought-after design at The Alora Mae. This 2-bedroom, 2-bath home offers 1,122 square feet of light-filled living with a spacious kitchen featuring a large island, dedicated pantry, and thoughtfully selected designer finishes. Located on one of the last

  Jacob Shafer Kept Property Group, LLC

  802 S Creek St Unit 100, Fredericksburg, TX 78624
• 

  

  /12

  $595,000

  • Land
  • 17 Acres
  • $35,000 per Acre

  1 Fm 2093, Fredericksburg, TX 78624

  Byron Hinton Brasada Advisory Group

  

  1 Fm 2093, Fredericksburg, TX 78624
• 

  

  /43

  $359,900

  • 900 Sq Ft

  1775 Aviation Loop, Fredericksburg, TX 78624

  The only available lot for sale on the BEST airpark runway in Texas!! This runway is 3800 feet long and 80 (yes 80) feet wide with pilot controlled lighting. It was built by the Department of Defense to DOD standards to test drones for the USAF in the early 90's . C-130s landed here easily during the project! It was turned back over to the ranch owner upon completion of the project and after that

  Lance Casper Central Metro Realty

  1775 Aviation Loop, Fredericksburg, TX 78624
• 

  

  /13

  $6,630,000

  • Land
  • 78 Acres
  • $85,000 per Acre

  TBD E US Hwy 290, Fredericksburg, TX 78624

  Exceptional opportunity to own approximately 78 acres of prime commercial property in the heart of the Texas Hill Country Wine Corridor with additional acreage available for purchase. Ideally positioned along Hwy 290 East with an impressive ~ 900 feet of highway frontage, this highly visible tract sits directly across from Wildseed Farms, and just 8 miles east of Fredericksburg. Surrounded by

  Rebekah Sauer Real Estate Advisory Team, LLC

  

  TBD E US Hwy 290, Fredericksburg, TX 78624
• 

  

  /19

  $325,000

  • Land
  • 5.29 Acres
  • $61,437 per Acre

  492 Inspiration Loop Unit 105, Fredericksburg, TX 78624

  Tucked into the heart of the Texas Hill Country, this exceptional 5-acre homesite offers the rare opportunity to become part of the Hidden Springs lifestyle—where luxury living meets the land. Surrounded by sweeping Hill Country views, majestic native oaks, and wide-open skies, this property provides the perfect canvas for a custom home designed to embrace both beauty and tranquility. More than

  Pamela Brooksher eXp Realty-Absolute Charm Real Estate Group

  

  492 Inspiration Loop Unit 105, Fredericksburg, TX 78624
• 

  

  /63

  $1,795,000

  $103K PRICE DROP

  • 2 Beds
  • 2.5 Baths
  • 2,949 Sq Ft

  364 Wolf Creek Rd, Fredericksburg, TX 78624

  HAVEN ON WOLF CREEK – Offers the epitome of style, quality and craftsmanship wrapped up in a beautiful custom home overlooking Wolf Creek. This impressive stately home is nestled away at the end of a cul-de-sac surrounded by abundant vegetation and beautiful landscaping making for an ultimate private feel. As you walk through the front door you are greeted by a wall of windows looking out over

  Mike Starks RE/MAX Town & Country

  

  364 Wolf Creek Rd, Fredericksburg, TX 78624
• 

  

  /12

  $381,700

  • Land
  • 32,670 Sq Ft
  • $508,933 per Acre

  227 Interlaken St Unit 73, Fredericksburg, TX 78624

  Welcome to Frieden, a Southern Living Inspired Community located just 2 miles from the heart of Fredericksburg Main Street. This exclusive gated community offers a variety of homesites and features lock-and-leave security. Owners have the freedom to choose their custom builder and architectural plan upon approval from Architectural Committee. Our community boasts an array of exceptional

  Anne Sultemeier Reata Ranch Realty, LLC

  

  227 Interlaken St Unit 73, Fredericksburg, TX 78624
• 

  

  /11

  $258,500

  • Land
  • 23,522 Sq Ft
  • $478,704 per Acre

  224 Interlaken St Unit 11, Fredericksburg, TX 78624

  Welcome to Frieden, a Southern Living Inspired Community located just 2 miles from the heart of Fredericksburg Main Street. This exclusive gated community offers a variety of homesites and features lock-and-leave security. Owners have the freedom to choose their custom builder and architectural plan upon approval from Architectural Committee. Our community boasts an array of exceptional

  Anne Sultemeier Reata Ranch Realty, LLC

  

  224 Interlaken St Unit 11, Fredericksburg, TX 78624
• 

  

  /31

  $755,000

  $20K PRICE DROP

  • 3 Beds
  • 2 Baths
  • 1,614 Sq Ft

  809 E Highway St, Fredericksburg, TX 78624

  Pristine, gorgeous Fredericksburg property. 1 mile to downtown, shopping, restaurants, museums, wineries, breweries, distilleries, parks, hiking, biking, and much more. Short term rental DREAM! 1614 square ft, 3-2, FULLY renovated, sits on .380 acre and comes TOTALLY FURNISHED with high quality furnishings throughout. If you want a short term rental property ready to go, this is your property!

  Ginger Varga Texas Urban Living Realty

  809 E Highway St, Fredericksburg, TX 78624
• 

  

  /24

  $587,500

  $38K PRICE DROP

  • 3 Beds
  • 3 Baths
  • 1,700 Sq Ft

  8218 N US Highway 87, Fredericksburg, TX 78624

  Country place located just 8 miles from Fredericksburg has 10.63 acres and fronts U.S. Highway 87 and Cherry Mountain Loop (county). The ranch style, all-brick, three-bedroom, three-bath home features large living room with fireplace, oversized two car attached garage with workshop area, covered front porch. The home's plumbing lines and metal roof were replaced in 2024. The fenced yard has a

  Neal Reeh Real Estate Advisory Team, LLC

  8218 N US Highway 87, Fredericksburg, TX 78624
• 

  

  /9

  $699,000

  • Land
  • 32 Acres
  • $21,844 per Acre

  645 Arthur Ave, Fredericksburg, TX 78624

  Incredible investment opportunity in the heart of the Texas Hill Country! This beautiful 32-acre tract offers rolling terrain, mature live oak trees, a wet weather creek, and elevated homesites with stunning views-ready for your dream build, recreational use, or land investment. Private and secluded with minimal restrictions, this AG-exempt property allows for hunting and enjoying abundant

  Robin Dallenbach Robin Dallenbach, Broker

  

  645 Arthur Ave, Fredericksburg, TX 78624
• 

  

  /7

  $280,000

  • Land
  • 10.51 Acres
  • $26,641 per Acre

  20588 Texas Highway 16, von Ormy, TX 78073

  "This property is a nature lover's dream, with over 10 acres studded with mature oak trees and more. Whether you want to create a secluded, shaded home site or leave the natural landscape largely untouched, these trees provide both beauty and privacy, creating a peaceful environment for your new home."Unlike many other properties, there is no HOA here- Drive down a long, romantic private drive to

  Sonny Walton AXEN Realty

  20588 Texas Highway 16, von Ormy, TX 78073
• 

  

  /23

  $329,999

  New Construction $5K PRICE DROP

  • 4 Beds
  • 3 Baths
  • 2,024 Sq Ft

  217 Joshua Cove, Fredericksburg, TX 78624

  This new single-level home is host to an inviting open-concept floorplan with convenient access to a covered patio, ready for seamless entertaining and multitasking. Three secondary bedrooms are located off the foyer, with the luxe owner’s suite tucked into a private rear corner, complete with a spa-inspired bathroom and walk-in closet.

  Lennar Builder

  217 Joshua Cove, Fredericksburg, TX 78624
• 

  

  /19

  $398,990

  New Construction $51K PRICE DROP

  • 4 Beds
  • 2 Baths
  • 1,870 Sq Ft

  184 Teal St, Fredericksburg, TX 78624

  Check out the Dean at Sonoma Oaks, a one-story floorplan featured in our community in Fredericksburg, Texas. Designed across 1,870 square feet, this home includes 4 bedrooms and 2 bathrooms. Our homes in Sonoma Oaks feature our modern farmhouse exterior, and the Dean is available in 2 exterior options and a 3-car garage option. Walk through the covered entryway and make your way down the hall to

  D.R. Horton Builder

  184 Teal St, Fredericksburg, TX 78624
• 

  

  /25

  $550,000

  • 2 Beds
  • 1 Bath
  • 1,152 Sq Ft

  510 S Columbus St, Fredericksburg, TX 78624

  Welcome to 510 S. Columbus, a charming Fredericksburg retreat just a short drive from the shops, restaurants, and wineries of historic Main Street, Fredericksburg. Situated on an oversized 0.26-acre lot, this successful and well-established short-term rental offers an exceptional opportunity for both investors and those seeking a personal getaway. Inside, the home features two spacious king

  Robert Tucker Reata Ranch Realty, LLC

  

  510 S Columbus St, Fredericksburg, TX 78624
• 

  

  /8

  $166,400

  • Land
  • 52 Acres
  • $3,200 per Acre

  0000 Fm 1828, San Angelo, TX 78624

  52 acres located 12 miles norhtwest of Eldorado TX. Approximately 45 minutes from San Angelo and 2 hours from Midland/Odessa. This piece of property has paved access off FM 1828. No restrictions or easements! New netwire fence on the complete east side. Perfect weekend getaway that offers great hunting.

  Skyler Schmickle Concho Capital Real Estate

  0000 Fm 1828, San Angelo, TX 78624
• 

  

  /7

  $199,000

  • Land
  • 3.51 Acres
  • $56,695 per Acre

  Lot 52 Axis Cir, Fredericksburg, TX 78624

  Beautiful 3.51-acre homesite in the desirable gated Vineyard Ridge community, ideally located between Fredericksburg and Johnson City in the heart of Texas Wine Country. This picturesque property offers a level building site, mature oak trees, scenic Hill Country views, and abundant privacy. Underground utilities and community water are available at the lot, and the subdivision benefits from an

  Allan Griego Austin Market Realty

  Lot 52 Axis Cir, Fredericksburg, TX 78624
• 

  

  /16

  $349,000

  • 2 Beds
  • 1 Bath
  • 1,085 Sq Ft

  303 S Orange St, Fredericksburg, TX 78624

  Solid 1955 brick home just a few blocks from Main Street in the heart of Fredericksburg. Situated on a 0.20-acre in-town lot, this 2-bedroom, 1-bath home offers approximately 1,085 square feet with a comfortable floor plan, spacious kitchen/dining area, enclosed porch, carport, and storage building. The home has good bones and is ready for cosmetic updates, making it a great opportunity for a

  jill tabor Portfolio Real Estate - KW

  

  303 S Orange St, Fredericksburg, TX 78624
• 

  

  /9

  $255,780

  • Land
  • 18,730 Sq Ft
  • $594,837 per Acre

  126 Stoneledge Unit 383, Fredericksburg, TX 78624

  Phase XI in the highly sought-after Stone Ridge Development! This exciting last phase of lots boast breathtaking views that overlook the entire Fredericksburg area. Lot sizes range from 0.28 to 0.57 acres, providing ample space for your dream home. Stone Ridge stands as Fredericksburg's premier residential community within the City Limits, offering a lifestyle of luxury and convenience!

  Charlie Kiehne Real Estate Advisory Team, LLC

  

  126 Stoneledge Unit 383, Fredericksburg, TX 78624
• 

  

  /19

  $540,000

  • Land
  • 10.8 Acres
  • $50,000 per Acre

  34 N Gretchen Grove Ln, Fredericksburg, TX 78624

  This is a 10 acre lot with views and lot of trees that offers a great home site. Located within 6 miles of Fredericksburg Main Street, it is the perfect spot for building your next home! It has a paved road and CTEC electric on property. Enjoy the tranquility of the hill country in close proximity to town.

  Caroline Hartmann Hartmann Andrews Realty

  

  34 N Gretchen Grove Ln, Fredericksburg, TX 78624
• 

  

  /24

  $169,480

  • Land
  • 4.46 Acres
  • $38,000 per Acre

  Lot 19 S Cielo Vista Ct Unit 19, Fredericksburg, TX 78624

  Nestled within The Preserve at Chula Vista Ranch, one of Fredericksburg's premier gated communities, this rare offering combines expansive open space, mature trees, privacy, and breathtaking Hill Country vistas. Whether envisioned as a luxury estate, weekend escape, or long-term investment, this property offers flexibility, privacy, and the chance to create a true legacy property in one of the

  Melissa Staudt Kuper Sotheby's Int'l Realty - Boerne

  

  Lot 19 S Cielo Vista Ct Unit 19, Fredericksburg, TX 78624
• 

  

  /4

  $625,000

  $200K PRICE DROP

  • Land
  • 2.58 Acres
  • $242,248 per Acre

  741 Marfa Trail Unit 741, Fredericksburg, TX 78624

  This exceptional lot offers a high and level homesite above the Racquet Club and gorgeous hills beyond. The building envelope creates a private tract within the trees, on a wide area with an east-facing back porch. Your architect will relish creating a trophy home on this exceptional lot. Builders, house plans, and landscape plans must be reviewed and approved by the Architectural Review Board,

  Sean Gioffre Boot Ranch Realty, LLC

  

  741 Marfa Trail Unit 741, Fredericksburg, TX 78624
• 

  

  /11

  $200,000

  $41K PRICE INCREASE

  • Land
  • 11,979 Sq Ft
  • $727,273 per Acre

  Lot 111B Interlaken St Unit 111B, Fredericksburg, TX 78624

  Anne Sultemeier Reata Ranch Realty, LLC

  

  Lot 111B Interlaken St Unit 111B, Fredericksburg, TX 78624
• 

  

  /41

  $1,049,000

  • 3 Beds
  • 3.5 Baths
  • 2,726 Sq Ft

  2219 Stone Meadow, Fredericksburg, TX 78624

  Situated on a premier lot in the highly desirable Stone Ridge subdivision, this custom 3-bedroom, 3.5-bath home offers privacy, views, and thoughtful design just minutes from downtown Fredericksburg. With only one adjoining neighbor and open space to the west, the property enjoys an expansive Hill Country feel that is rare within city limits. The well-designed floor plan features spacious living

  jill tabor Portfolio Real Estate - KW

  

  2219 Stone Meadow, Fredericksburg, TX 78624
• 

  

  /16

  $135,000

  • Land
  • 5.3 Acres
  • $25,472 per Acre

  25 W Dallas Josie Rd, Harper, TX 78631

  Come build your dream home on this beautiful hill country gem. This 5 +acre LOT has great building sites with access off the paved road, only minutes from town. The lot has an abundance of beautiful oak trees and various wildlife, only 25 min to Fredericksburg wineries!

  Claudia Miranda Jason Mitchell Real Estate Tex

  25 W Dallas Josie Rd, Harper, TX 78631
• 

  

  /34

  $359,000

  • 1 Bed
  • 1 Bath
  • 386 Sq Ft

  5386 Farm To Market 1376 Unit 131, Fredericksburg, TX 78624

  Located within the gated Firefly Resort in Fredericksburg, Texas, "The Texas Longhorn" is a beautifully designed fully furnished tiny home (Unit #131) offers the perfect blend of Hill Country charm, modern comfort, and strong short-term rental potential. Currently operating as an STR, the property is professionally managed by Stay Texas (formerly Cozi) and also listed on Airbnb, making it a

  Kasi Hennigan Keller Williams Realty - Kerrville

  

  5386 Farm To Market 1376 Unit 131, Fredericksburg, TX 78624
• 

  

  /40

  $7,750,000

  $3M PRICE DROP

  • Land
  • 310 Acres
  • $25,000 per Acre

  2199 Langes Mill Rd, Doss, TX 78618

  310 +/- acre heritage ranch is in northwestern Gillespie County just north of Doss, Texas. Ranch features two beautiful creeks, Threadgill Creek and Mormon Creek. These two creeks converge on the ranch. The Threadgill Creek, with its interesting rock bluff formations, runs into and out of the entire 310 +/- acres. Both sides of both creeks are on the property. Numerous vantage points have superb

  Neel Reeh Real Estate Advisory Team, LLC

  

  2199 Langes Mill Rd, Doss, TX 78618
• 

  

  /28

  $690,000

  • 3 Beds
  • 2 Baths
  • 1,140 Sq Ft

  213 Mistletoe St, Fredericksburg, TX 78624

  The "Cottage on Mistletoe" is the quintessential Fredericksburg B&B! Selling turn-key with future bookings, this proven income-producing property has over 160 ratings totaling almost 4.9 STARS! R-2 zoning, huge .38 acre lot backing up to Town Creek. Only 2 blocks to Main Street, making an easy walk to popular places like Hondo's and Crossroads Saloon. Built in 1940, this historic property has

  Summer Mealy Reno Realty Group

  213 Mistletoe St, Fredericksburg, TX 78624
• 

  

  /22

  $230,000

  • Land
  • 4,356 Sq Ft
  • $2,300,000 per Acre

  5386 Ranch Road 1376 Unit 328, Fredericksburg, TX 78624

  Now is the time to secure one of these highly sought-after lots before demand soars. Firefly RV & Tiny Home Resort has been open for just over a year and is already attracting vacationers from across the country. Opportunities like this—perfect for both ownership and investment—don’t come around often, especially at the ground level. Once complete, the resort will feature three phases with two

  Sandee Payne eXp Realty LLC

  5386 Ranch Road 1376 Unit 328, Fredericksburg, TX 78624
• 

  

  /16

  $5,785,000

  New Construction

  • 5 Beds
  • 5.5 Baths
  • 4,993 Sq Ft

  82 Presidio Ridge Dr, Fredericksburg, TX 78624

  Behind the gates of Boot Ranch, on prestigious Presidio Drive, this newly completed custom estate by Urbano Design & Build is a rare expression of Hill Country elegance — designed for legacy living and extraordinary privacy. Perfectly positioned near Longhorn Landing yet intentionally oriented for seclusion, 82 Presidio Ridge Drive offers a sense of retreat that feels both protected and

  Sean Gioffre Boot Ranch Realty, LLC

  

  82 Presidio Ridge Dr, Fredericksburg, TX 78624
• 

  

  /29

  $223,000

  • 3 Beds
  • 2 Baths

  212 Shannon Dr, Fredericksburg, TX 78624

  Have you dreamed of living in the heart of the Texas hill country? You saw the home prices in Fredericksburg and though that it would stay a dream and not a reality? Here is your opportunity to stake your claim. Four minutes from downtown Fredericksburg you are right in the heart of the action but still in the quiet and the calm of the country. Enjoy the best of both worlds as shopping,

  Kimberly Spears Home in The Hills Realty

  212 Shannon Dr, Fredericksburg, TX 78624
• 

  

  /8

  $220,000

  $75K PRICE DROP

  • Land
  • 11.4 Acres
  • $19,298 per Acre

  8940 S Ranch Road 783 Unit 14, Fredericksburg, TX 78624

  Bonita View Ranch is a small residential ranch community located just 10 minutes north of the thriving town of Kerrville. These beautiful properties have magnificent views of the surrounding rolling landscape. While maintaining the picturesque hill country views the land also offer lots of usable land with adequate top soils. There is no HOA and there are light restrictions with a 1200 square

  Calvin Smajstrla Reno Realty Group

  

  8940 S Ranch Road 783 Unit 14, Fredericksburg, TX 78624
• 

  

  /4

  $345,000

  $34K PRICE DROP

  • Land
  • 15,681 Sq Ft
  • $958,333 per Acre

  2137 Stone Meadow Unit 368, Fredericksburg, TX 78624

  Been wanting to build in Stone Ridge but don't like the available lots that are on the side of a hill or lots of slope to where the foundation cost will be just unbelievable? Then here is your opportunity to get one of the great tracts in section 10, level and easy to build on. Tract is 105' wide, just short of 150' deep which gives you plenty of room to meet the side entry garage requirement,

  Dennis Kusenberger RE/MAX Town & Country

  

  2137 Stone Meadow Unit 368, Fredericksburg, TX 78624

Showing Results 401 - 440, Page 11 of 18